Disadvantages of Monopolistic Competition?


Craig Sisson (Senior Director)
Monopolistic competition is a market type in which there are many firms that offer similar but differentiated products. Barriers to entry are low, and no single firm can take over the market.
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Retail stores.
For more information on monopolistic competition, visit Britannica.com.
An example of monopolistic comptetition would be merchandising firms
monopolistic competition is a market situation in which (1) there are large number of buyers and large number of sellers (2) the products sold by sellers are close substitutes (3)
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Ask.com Answer for: what is a monopolistic competition
Similarities Between Monopolistic Competition Vs. Perfect Competition
Several types of competition exist in the realm of market structures. Monopolistic competition and perfect competition are two of the common types. These two market types are very different, but offer several commonalities.... More »
Source: www.ehow.com
Monopolistic competition is term that describes a type of competition that is characterised by small firms, which sell the same products and are very competitive. The production in this case does not take place at the lowest possible cost.
A 'Monopolistic Competition' refers to a market structure in which many sellers produce similar, but slightly differentiated products. In this form of competition, all the firms have some market power. That is, none of the firms in this market structure are price takers.
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